SCIC, Mizuho Bank sign MOU

Tokyo, November 7^th, 2014 – The State Capital Investment Corporation (SCIC) and Mizuho Bank Ltd signed a Memorandum of Understanding (MOU) on bilateral cooperation in supporting overseas business expansion of Japanese companies. On behalf of the two organizations, Mr. Lai Van Dao, CEO of SCIC and Mr. Katsuyuki Mizuma, Managing Director for Asia and Oceania of Mizuho Bank Ltd, signed the MOU.

Photograph of the signing ceremony

As SCIC is also seriously looking for foreign investors that are interested in Vietnamese enterprises, this MOU provides a frame work for fruitful collaboration between SCIC and Mizuho Bank Ltd to explore investment opportunities for the Bank’s Japanese clients. Specifically, both parties would cooperate in: divestment of current SCIC investees; new investment projects and; building channels for information exchange on investment environment in Vietnam.

SCIC CEO Lai Van Dao said: “Currently, Japanese investors are very interested in investment opportunities in Vietnam, including those from SCIC such as buying SCIC’s shares in companies under its divestment plan, co-investing in projects with SCIC and/or SCIC’s portfolio companies. The MOU aims at promoting cooperation between SCIC and potential Japanese partners in general and Mizuho Bank Ltd in particular. It is an initial condition for SCIC to further build up relationship with Japanese investors in order to tap into joint-investment opportunities with SCIC and/or its portfolio companies”.

Mr. Katsuyuki Mizuma, Managing Director for Asia & Oceania of Mizuho Bank Ltd said: “With high economic growth for a long period of time, Vietnam has been a notable destination for many Japanese investments, not only as a manufacturing site but also as an attractive consumption market.  With this MOU signing, we could reinforce our capabilities in facilitating the needs of overseas business expanding clients, emphasizing the image of “Strong Mizuho in GMS””.

Also at the signing ceremony, H.E. Mr. Doan Xuan Hung, Ambassador Extraordinary and Plenipotentiary of Socialist Republic of Vietnam to Japan, said: “Vietnam and Japan are currently important strategic partners to each other, with mutual trust and understanding. Therefore, the signing of MOU between SCIC and Mizuho Bank Ltd at this point of time is necessary and appropriate. It opens a gate for businesses of the two countries to make investment opportunities come true. The Embassy of Vietnam to Japan is always a bridge for cooperation between the two countries and their business communities as well. We particularly support the cooperation between SCIC and Mizuho”.

From left to right: SCIC CEO Lai Van Dao, Ambassador Doan Xuan Hung and Mr. Katsuyuki Mizuma at the MOU signing ceremony